Hillcrest trustees discussed sales tax abatement proposals for a new business that will take over the former Grennan Meats building sometime within the near future.
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HILLCREST — Hillcrest trustees discussed sales tax abatement proposals for a new business that will take over the former Grennan Meats building sometime within the near future.
Greg Hackbarth and Rochelle Mayor John Bearrows approached the board Wednesday evening after first appearing before the village trustees last month. Hackbarth plans to open a new vehicle repair shop at the former Grennan Meats building located off Maple Avenue and Illinois Route 251 in Hillcrest. Hackbarth plans to renovate the building and add a retail space.
“We’ve already closed on the property and we were here before we closed on the property,” Bearrows said. “Some of the things that will be done will hinge on help from the sales tax money. They’re planning to open a retail portion of the business, which they haven’t had before. Over the last full year, the business generated about $32,000 in sales tax. We’re estimating that around $22,000 in sales tax revenue will be generated within the first 12 months.”
Proposals discussed between Hackbarth, Bearrows and Hillcrest trustees included a five-year, stair-step sales tax abatement that would begin at 65 percent over the first two years before dropping to 50 percent over the next two years and 40 percent over the fifth and final year. Trustees said they will review prior sales tax abatements with businesses in the village before finalizing an agreement. No decisions were finalized during Wednesday’s village board meeting.
“I sold Greg the building and I’ve known Greg for a while,” Bearrows said. “We’ve worked on different projects and he’s done work on trucks for the City of Rochelle and the village. I believe in his business and I think he’ll bring a great business to Hillcrest.”
Projects
Hillcrest trustees approved up to $15,000 for storm sewer replacement work and up to $6,000 for tree removal in the village. The $6,000 allotment will fund the removal of five trees from the detention pond area near Windover Park Lane and Windward Lane. The $15,000 allotment will fund the beginning of a storm sewer replacement project that will include work on the storm sewer infrastructure on Errett Road, Linda Avenue, Wayne Road and Roy Avenue.
Approvals
Hillcrest trustees approved the 2022 tax levy, which saw an increase of $1,400. Trustees also approved the purchase of new water meter reading equipment at a cost of $7,895 as well as soil boring work at the former asphalt plant at a cost of $21,495. The former asphalt plant is where the village plans to eventually construct a new water tower and water treatment plant.